Burberry CFO makes multiple transactions
Jul 19, 2012
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Stacey Cartwright, the Executive Vice President and Chief Financial Officer of high-end fashion label Burberry, has sold 122,500 of the 132,500 shares she received which vested on Thursday.
Cartwright, who joined the firm as CFO in 2004, sold the shares at 1,211.99p each, earning her a total of £1.36m.
Under the firm's Co-Investment plan, Cartwright and Chief Executive Officer Angela Ahrendts have both deferred their bonus for the year ended March 31st and have instead invested in shares at 1,211.99p a pop.
Cartwright bought up 35,395 and was awarded 148,516 matching shares, while Ahrendts purchased 77,870 and received 326,736 matching shares.
Earlier this week Burberry said that as part of its ongoing discussions over a potential new operating model for the Burberry fragrance and beauty business, it has given notice of its intention to terminate the licence agreement with Interparfums SA, the exclusive worldwide licensee for Burberry fragrance and beauty products, at the end of 2012.
Burberry, which will pay around €181m in cash for the termination, said the decision would ensure it had the flexibility to pursue the development of the business.
Last week the company said total revenue in the three months to the end of June was up 11% to £408m from £367m in the corresponding period of 2011.
Retail revenue was up 14% to £280m from £245m the year before, with the UK, France, Germany and Greater China leading the way. Like-for-like sales were up 6% year-on-year.
Licensing revenue was down year-on-year, easing 2.0% (-5.0% on a constant currency basis) to £26m from £27m in the corresponding period of 2011, largely as a result of the the termination of certain non-apparel licences in Japan in June 2011.
Shares rose today on positive read-across from French peer Hermes.
Top Director Buys
Burberry Group (BRBY)
Director name: Ms Angela Ahrendts
Amount purchased: 77,870 @ 1,211.99p
Value: £943,777
Burberry Group (BRBY)
Director name: Ms Stacey Cartwright
Amount purchased: 35,395 @ 1,211.99p
Value: £428,984
Tasty (TAST)
Director name: Mr Samuel Kaye
Amount purchased: 95,262 @ 63.76p
Value: £60,739
Tasty (TAST)
Director name: Mr Adam Kaye
Amount purchased: 95,262 @ 63.76p
Value: £60,739
World Trust Fund (WTR)
Director name: Mr Philip R. McLoughlin
Amount purchased: 15,000 @ 180.36p
Value: £27,054
Rockhopper Exploration (RKH)
Director name: Mr David Hamilton Bodecott
Amount purchased: 14,982 @ 198.25p
Value: £29,702
Rockhopper Exploration (RKH)
Director name: Mr Peter John Dixon-Clarke
Amount purchased: 12,484 @ 198.25p
Value: £24,750
SnackTime (SNAK)
Director name: Mr Jeremy J Hamer
Amount purchased: 80,000 @ 30.00p
Value: £24,000
Throgmorton Trust (THRG)
Director name: Ms Jean Matterson
Amount purchased: 12,000 @ 175.00p
Value: £21,000
RedHot Media International Ltd (DI). (RHM)
Director name: Mr Cheong Chia Chieh
Amount purchased: 100,000 @ 20.00p
Value: £20,000
Top Director Sells
Burberry Group (BRBY)
Director name: Ms Stacey Cartwright
Amount sold: 112,500 @ 1,211.99p
Value: £1,363,489
IG Group Holdings (IGG)
Director name: Mr Jonathan R Davie
Amount sold: 200,000 @ 458.00p
Value: £916,000
Tasty (TAST)
Director name: Mr Daniel Jonathan Plant
Amount sold: 470,514 @ 63.76p
Value: £300,000
NR
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